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Mumbai triplex sold at Rs 252 cr

MUMBAI: In a record-breaking residential deal, an 18,000 sq feet triplex in an under-construction tower at Walkeshwar in South Mumbai has been sold for Rs 252 crore, according to a report published in The Times of India. Quoting real estate market sources, the report says, that the transaction, between industrialist Niraj Bajaj and Macrotech Developers (Lodha Group), is the most expensive in India to date.

Realty market experts say that there is a rise in sales of luxury apartments as most buyers want to beat the March 31, 2023 deadline, as from April 2023, capital gains allowed to be invested under Section 54 have been limited to Rs 10 crore. Any capital gain over and above this would automatically be taxed.